Shubhkarya Agricultural Cooperative Organization  7th Annual General Meeting has been completed, Net profit was at 1 million 808 thousand Rupees

Kathmandu : The Shubkarya Agricultural Cooperative Organization’s Sirha District located in Mirchaiya Municipality Ward No. 5 has been completed the annual general meeting. The organization organized the program targeting the members.

The program was inaugurated under the chairmanship of Ramratna Yadav, the Chief Guest of Mirchaiya Municipality, Shraban Kumar Yadav, the President of the organization along with Ramratna Yadav, lit the Panas.

Addressing the program, Mayor Yadav said that since some organizations are taking interest as metered interest by giving loans to the common people, Mirchaiya Municipality will not hesitate to take action against such cooperative organizations.

He also congratulated the newly elected officials, asserting that the action will be taken against the illegal cooperatives within the municipality, as some cooperatives have taken interest arbitrarily and killed people in a situation where only interest should be charged according to the rules of the Government of Nepal.

Chairman of the organization, Ramratna Yadaval, while presenting the report of the chairman, said that the organization is active for the economic and social development of its members. He said that the organization has been working to change the standard of living of the members by integrating the small capital scattered in the society and mobilizing it among the members.

Chairman Yadav said that the organization is conducting financial transactions based on cooperative values, recognition and principles and informed that the organization succeeded in returning the members savings by managing liquidity even in the midst of the financial crisis.

He said that the institution has paid special attention to the liquidity system managed the risk of overdue loans without fail, continued cooperative education, prioritized loan investment in the productive sector and operated the institution according to the pulse standards.

Yadav, the president of the organization, started various activities to make this organization a model, and informed that today this organization has succeeded in reaching this state because of the emphasis on the participation of the shareholders in this organization. He informed that everyone deserves thanks as people from different fields have been helping to move this organization forward.

Chairman Ramratna Yadav said that the organization, which started with normal capital, has already invested 126 million 784 thousand 389 rupees in debt and currently 1702 members have joined in the organization. He said that the current turnover of the organization is 169 million 796 thousand 237 rupees and similarly this organization has made a profit of 1 million 808 thousand Rupees this year.

A new 7-person board of directors has been elected from the seventh general meeting. Bharat Kumar Yadav is the chairman of the working committee, Ramratan Yadav is the secretary, Ram Kumari Shah is the treasurer, Pramod Shah, Ram Saran Shah, Ranjit Yadav and Sanjay Shah are the members.

Mayor of Mirchaiya Municipality Shraban Kumar Yadav as chief guest, Dhananjay Mahato- head of cooperative branch of Mirchaiya Municipality as special guest, Loknath Yadav-Chairman of Mithala Savings Multi-Purpose Cooperative, Rajendra Shah-chairman of Om Savings and Credit Cooperative,  Janakalal Shah, Rambabu Mahato and other intellectuals social workers, journalists and others were participated in the program.